Market Update Sept 26 2023

Full Video Transcript Below

Market Update Sept 26 2023

[00:00:00] Hey everybody, welcome back to the market statistics for Southern Oregon. This is for the week ending September 26th, 2023. I'm Alice Lema, and I'm a broker in beautiful Southern Oregon with John L. Scott real estate.

Let's start with Klamath County this week. Okay so residential single family home Klamath County prices year over year this week are down 38%. The average Residential home in climate county costing $242, 347 dollars. The number of sold year over year in Klamath county this week are down 37%. There were 17 residential sales closed last week. The number of listings year over year in climate county are up 28 percent. Yay! Congratulations. There were 289 residential listings active this week in Klamath County. Looks like we had one foreclosure closed this week in Crescent, [00:01:00] Oregon. It closed at $105, 000. That was full price. It was a 900 square foot cottage on 0. 31 acres. There were no short sales closed in Klamath County this week.

Jackson County prices year over year this week are down 9%. The average single family home in Jackson County this week costing $448, 814. The numbers sold year over year in Jackson County are down 40 percent. We closed 40 residential properties last week in Jackson County. The number of listings year over year are down this week by 14 percent in Jackson County. We had 736 active listings in the residential market. Foreclosures in Jackson County, we had one. It was in White City. It closed at $225, 000. It was [00:02:00] below asking and it was a real estate agent that bought it for private money. All that is public record folks. I'm not telling tales out of school, but congratulations. That was a pretty good deal. No short sales closed in Jackson County this week.

And we had 2 -million sales closed in Jackson County this week. One in East Medford for 1. 4 million. It was a 5, 000 square foot house on one half of an acre. It sold for below asking and it was cash. The second million dollar home in Jackson County that closed this week. This is residential by the way, was in Jacksonville and it was for Thousand square feet on half an acre and it was below asking and that closed at right around a million dollars in Jacksonville. Congratulations to those folks.

Josephine County this week, prices are down 6 [00:03:00] percent year over year. The average Josephine County residential home now costing $460, 187. The number of solds year over year in Josephine County were down 0%. They were not up. They were not down. Look at that. Flat even. We were wondering if we were going to see some of those stability numbers. So Josephine County had no number of sold, percentage up or down, and we had 23 residential closings last week in Josephine County. Number of listings year over year this week are down 11 percent Josephine County. We had 359 active listings. No foreclosures, no short sales and no 1Million dollar closings in Josephine County this week.

So if you're tracking this every week, like I am, then you're seeing that some weeks we have our spikes up some weeks we have down and we have some stability happening. So super [00:04:00] exciting. We're watching our local market these days with very, very strong interest because since early September, we're seeing a lot of activity. And it's a little bit of a surprise because the interest rates are now up from seven into the eights in some cases.

But we have a lot of activity and we have a lot more listings coming on the market, even though they're not what they used to be. So if you want to do something in your real estate life and you want some advice and consultation, you want an ear, try to figure out how to put something together, give me a call. Give me a text 541-301-7980 and let's talk about what you want to do next in your real estate life. I'm a great listing agent. I'm a great buyer's agent. Great with investments, rural property. If you're downsizing, upsizing, it's my bag. So give me a call, give me a text and let's figure out how we're going to get an address for you.

Have a great weekend.